The S&P is fairly valued and it is becoming increasingly difficult to find cheap names, but here are a few stocks that still have room for growth, said Scott Black, president of Delphi Management.
“I think you have to be an individual stock picker,” Black told CNBC.
Seagate Technology—“We’re in a tech refresh cycle and it will probably last another year and a half to two years,” he said.
“Seagate benefits from this. PCs are growing at about 13-15 percent, notebooks, games, they’re all doing well and Seagate’s earnings are exploding…Seagate has more cash then debt on balance sheet, so you have a bullet-proof balance sheet to go with it.”
Nexen —“It’s much cheaper than Suncor ,” he said.
“It’s a well-run company—the balance sheet’s conservative, the coverage ratio’s in tact and it’s an interesting way to play energy prices.”
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Adelphi Management owns shares of STX and NXY.